Low inventory supports aluminium prices to consolidate at highs; Peak season recovery pace awaits verification
Futures: The most-traded SHFE aluminium contract opened at RMB 24,590 per tonne in the night session on September 9, reached a high of RMB 24,660 per tonne and a low of RMB 24,565 per tonne, and closed at RMB 24,650 per tonne, up RMB 90 per tonne or 0.37 per cent from the previous close. Futures...
September peak season destocking supports aluminium prices, macro risks still warrant vigilance
Futures: The most-traded SHFE aluminium contract opened at RMB 24,470 per tonne in the night session on September 8, reached a high of RMB 24,660 per tonne and a low of RMB 24,420 per tonne, and closed at RMB 24,645 per tonne, up RMB 185 per tonne or 0.76 per cent from the previous close. Futures...
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Average alumina spot price shoots up today by RMB18/t, while A00 aluminium ingot price records another drop
The average alumina spot price continues to expand in China amidst the limited production at refineries and weak supplies in the market. Today, on February 27, the alumina price has grown by RMB 18 per tonne to stand at RMB 2,543 per tonne, according to Shanghai Metals Market. With the continued...
Primary aluminium inventories extend growth over the weekend, but slower than the previous week
On Monday, February 24, the social inventories of primary aluminium extended its growth over the weekend, as demand recovered slowly than expected due to Coronavirus, learned Shanghai Metals Market. The data shows the inventories across eight major Chinese consumption areas, including SHFE...
Aluminium billet inventories further expanded by 22,500t on lower consumptions by end-users
Shanghai Metals Market found a further rise in 6063 aluminium billet inventories across five major consumption areas on Thursday, February 20. According to the data, the stocks rose by 22,500 tonnes over the week to come in at 193,100. On last Thursday, February 13, the billet stocks increased by...
Average alumina spot price rallies by RMB7/t, while A00 aluminium ingot price extends drop by RMB50/t
The average alumina spot price in China has further rallied by RMB 7 per tonne to RMB 2,510 per tonne, on Friday, February 21, according to Shanghai Metals Market. This marks the fourth consecutive rise in the alumina spot price. With the continued growth, the price stands higher by RMB 56 per...
China’s primary aluminium inventories rose 137,000 tonnes on lower consumption
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.23 million tonnes as of Thursday, 20 February 2020. That was up 137,000 tonnes compared to a build of 148,000 tonnes in the previous week....
Chinese Aluminium FRPs operating rates declined 9.22 percentage points in January; February to see the lowest drop in 3 years
Shanghai Metals Market estimates a drop of 10 percentage points in operating rates of aluminium sheet, plate and strip manufacturers in February, to the lowest when compared to the same month in the past three years. The average FRPs operating rates in January declined by 9.22 percentage points...
SMM estimates alumina prices to continue growing in the near term
According to Shanghai Metals Market survey, alumina prices are likely to extend growth in the near term, as production cut in refineries is increasing, and so is the imbalance between demand and supply on the continued virus impact. The amount of capacity cut at Chinese alumina refineries due to...
Average alumina spot price in China extends growth by RMB7/t, but A00 aluminium ingot price shows restraint
The average alumina spot price in China has extended its rise by RMB 7 per tonne to RMB 2,493 per tonne, as of Wednesday, January 19, according to Shanghai Metals Market. The growth rate is 28 per cent, higher than the previous day. This month has been seeing a positive trend in the alumina spot...
China’s new energy vehicle production in January dropped 52.3% YoY to 48,000 units: SMM
According to Shanghai Metals Market, China’s new energy vehicle production in January 2020 recorded a decline, as producers were shut during the Chinese New Year Holiday, while some of them delayed resumption due to an epidemic outbreak. Many even trimmed output because of continued market...
China’s primary aluminium inventories rose 69,000 tonnes over weekend
As updated by Shanghai Metals Market, social inventories of primary aluminium across eight consumption areas in China, including SHFE warrants, stood at 1.16 million tonnes as of Monday February 17, an increase of 69,000 tonnes Thursday February 13. The chart below shows the current status of the...
Prices of A00 aluminium ingot and aluminium alloy(A356) record the fourth consecutive day of fall
The A00 aluminium ingot price has recorded further downfall of RMB 40 per tonne, marking the fourth consecutive day of decline, found Shanghai Metals Market on Monday, February 17. The price has thus, come in at RMB 13,550 per tonne. The average prices are expected to range between RMB 13,530 per...
Chinese secondary aluminium operating rates in February estimated to fall to a record low: SMM
According to Shanghai Metals Market survey, secondary aluminium operating rates in China are likely to fall to a record low of 33 per cent in February, primarily due to a week or two delays in production resumption and the slow return of workers and downstream demand after the Chinese New Year...
Primary aluminium inventories in China record steep growth for second consecutive week after CNY
According to Shanghai Metals Market, the social inventories of primary aluminium in China have jumped today, on February 13, for the second consecutive week after the Chinese New Year Holiday. SMM data shows, the inventories across the eight major consumption areas, including SHFE warrants, are...
Alumina price extends growth by RMB4/t, while A00 aluminium ingot price falls for the second consecutive day
Recording a rise for the fourth consecutive day, the average alumina spot price in China has come in at RMB 2,480 per tonne on Thursday, February 13, found Shanghai Metals Market. The price has increased by RMB 4 per tonne from RMB 2,476 per tonne yesterday, February 12. While in the east, central,...
Primary aluminium inventories in China soar by 90,000 tonnes due to poor deliveries amid epidemic outbreak
According to Shanghai Metals Market, the social inventories of primary aluminium, across eight major consumption areas in China, rose over the weekend by 90,000 tonnes to 1.04 million tonnes, as of Monday, February 10. Limited arrival of stocks and lower shipments leaving social warehouses amid an...
China issues third batch of aluminium scrap import quotas allowing 1,440 tonnes
China’s environmental authorities on Wednesday, February 5, reportedly issued the third batch of aluminium scrap import quotas for 2020, which would allow 1,440 tonnes of high-grade aluminium scrap to enter China. This brought the total aluminium scrap allowed for imports to China to 284,449 tonnes...
A00 aluminium ingot price extends growth for the third consecutive day, and so the price of aluminium alloy (A356)
According to Shanghai Metals Market, the A00 aluminium ingot price has extended its growth for the third consecutive day by RMB 50 per tonne to stand at RMB 13,560 per tonne, as of Friday, February 7. The average prices are expected to range between RMB 13,540 per tonne and RMB 13,580 per tonne,...
6063 aluminium billet inventories in China extend growth for the fourth consecutive week
According to Shanghai Metals Market, the 6063 aluminium billet inventories across five major consumption areas in China have increased by 46,800 tonnes over the last two weeks. From 100,000 tonnes on January 23, the inventories, as of today, February 6, jumped to 146,800 tonnes, marking the fourth...
